McDonald's Q4 profit edges up by 1%, beats target

NEW YORK (MarketWatch)
McDonald's Corp. said Wednesday its fourth-quarter profit rose 1% to just under $1.4 billion, or $1.38 a share, from $1.38 billion, or $1.33 a share, in the year-ago period
Foreign currency translation had a negative impact of a penny a share in the latest quarter
Sales at the fast food operator rose 2% to $6.95 billion
Wall Street analysts expected earnings of $1.33 a share on sales of just under $6.9 billion, according to a survey by FactSet
Looking ahead, McDonald's said it expects negative comparable-store sales in January
"For the near-term we expect top and bottom-line growth to remain pressured," the company said McDonald's stuck to its long-term benchmarks for systemwide sales growth of 3% to 5% and operating income growth of 6% to 7%
The company plans to invest $3.2 billion of capital to open 1,500 to 1,600 new restaurants and to reinvest in existing locations